Origin Of The USD

Origin Of The USD

The currency of the United States, the U.S. dollar (USD used, briefly, was officially sign "$"), as a monetary unit in 1792. The term "dollar" as the unit of currency is much older.

Early 18 Century was due to a restrictive policy of the British Empire to the North American colonies wanted to slow the boom, a Münzknappheit. It adopted a ban that prevented the coins in North America. In response, the colonists made use of other currencies, such as the Spanish and Dutch dollars. The form of the word anglizierte Thaler or Taler is U.S. dollars . In the aftermath, "this designation for the circulating Spanish Pesos (Mexico)," Spanish dollar, but for the Portuguese "Eight Real Piece" coins used.

After gained independence from England asked the "Continental Congress" the first National Bank, the Bank of North America in Philadelphia, for help to the financial system and thus weak, circulating currencies to strengthen the. In the year 1792 was USD official currency for the Americas now used as independent, called the Coinage Act (stamp law) gave theU.S. dollar in preference to the British pound .
In 3 years now should the new USD replaced the other currencies. A gold and silver shortage delayed the process, could enough gold coins are marked only with the "Gold Rush" of 1848 in California. In 1857, foreign coins were ousted for good.
The origin of the sign "$" for the U.S. dollar can not be definitely determined, but there are many theories. Two of the best known and most probable explanations suggest a merger of two letters on the sign "$": U and S (U.S.), and P and S (as an abbreviation for pesos).